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In this chapter: > Know who the buyers are > Build your personal brand

8. Marketing Fundamentals. In this chapter: > Know who the buyers are > Build your personal brand > Create your marketing plan > Find the buyers and how buyers find you. 114. KNOW WHO THE BUYERS ARE.

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In this chapter: > Know who the buyers are > Build your personal brand

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  1. 8. Marketing Fundamentals In this chapter: > Know who the buyers are > Build your personal brand > Create your marketing plan > Find the buyers and how buyers find you 114

  2. KNOW WHO THE BUYERS ARE • Success of buyer’s representatives is determined in large measure by how well they understand who buyers are in their respective markets 114

  3. KNOW WHO THE BUYERS ARE • First-time home buyers • Younger (median age is 30) • Married • Earn, on average, $61,600 each year • Repeat home buyers • Older (median age is 48) • Married • Earn more (median annual income is $88,100) 114

  4. KNOW WHO THE BUYERS ARE In practice, however, there are as many different types of home buyers and buyer motivations as there are types of real estate and real estate markets. 114

  5. BUILD YOUR BRAND • Are you easy to remember? • What is your real estate niche? • Hobbies and interests? • What makes you unique? 117

  6. BUILD YOUR BRAND 118 Dana Moos: B&Bs, food, and photography

  7. BUILD YOUR BRAND 118 JR Siewert: 3rd generation real estate company

  8. BUILD YOUR BRAND 118 Lisa Sutton: Pet-friendly real estate professional

  9. CREATE YOUR MARKETING PLAN • Define objectives and goals • Target specific audience • Identify your point of differentiation • Refine your message • Determine the best media • Create your action plan and schedule • Prepare a detailed budget • Measure your results 119

  10. FIND BUYERS & HOW BUYERS FIND YOU 121

  11. Your Web Site—More Than the Cost of Doing Business • Functional necessity • First step for 1/3 of home buyers was searching for properties online • Some buyers may incubate for up to 24 months before contacting agent 123

  12. Additional Marketing Outreach Methods 126

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